Common use of P&I Advances by the Servicer Clause in Contracts

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments (adjusted to the Mortgage Loan Remittance Rate) that were due on the related Due Date and that were delinquent at the close of business on the related Determination Cutoff Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Owner on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's ’s records and replaced by the Servicer by deposit into the Custodial Account on or before each successive Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Owner pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.045.03, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's ’s obligation to make P&I Advances as to any Mortgage Loan shall continue through the later to occur of (a) the last Monthly Payment due prior to the payment in full of the Mortgage Loan or (b) the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.045.03, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability In such event, the Servicer shall be evidenced by deliver to the Owner an Officer’s Certificate delivered of the Company to the Master effect that an officer of the Owner has reviewed the related Mortgage File and has made the reasonable determination that any additional advances are Nonrecoverable. In the event that Servicer not later than ceases making P&I advances to the Business Day preceding Owner pursuant to this provision, Servicer shall (i) transfer the applicable Mortgage Loan to an actual/actual remittance type for the remaining life of the loan and (ii) remit actual collections on such Mortgage Loan on each subsequent Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Trustee on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Trustee pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Trustee on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Trustee pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer Trustee not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Owner on such xx.xx Remittance Date, the Servicer company may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's Company’s records and replaced by the Servicer Company by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Owner pursuant to Section 5.01 section 3.01 on such related Remittance Date. For purposes of this Section 5.04section 3.03, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 2.01 shall be considered delinquent until paid. The Servicer's ’s obligation to make P&I Advances advances as to any Mortgage Loan shall continue through the earlier to occur of (a) the repurchase of the Mortgage Loan by the Servicer, and the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.[END OF ARTICLE III]

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments (adjusted to the Mortgage Loan Remittance Rate) that were due on the related Due Date and that were delinquent xxxxx-xxxxx at the close of business on the related Determination Cutoff Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Owner on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's ’s records and replaced by the Servicer by deposit into the Custodial Account on or before each successive Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Owner pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.045.03, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's ’s obligation to make P&I Advances as to any Mortgage Loan shall continue through the later to occur of (a) the last Monthly Payment due prior to the payment in full of the Mortgage Loan or (b) the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Notwithstanding the provisions of this Section 5.045.03, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability In such event, the Servicer shall be evidenced by deliver to the Owner an Officer’s Certificate delivered of the Company to the Master effect that an officer of the Owner has reviewed the related Mortgage File and has made the reasonable determination that any additional advances are Nonrecoverable. In the event that Servicer not later than ceases making P&I advances to the Business Day preceding Owner pursuant to this provision, Servicer shall (i) transfer the applicable Mortgage Loan to an actual/actual remittance type for the remaining life of the loan and (ii) remit actual collections on such Mortgage Loan on each subsequent Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Exhibit One-10 Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer Trustee on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer Trustee pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Exhibit One-9 Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.

P&I Advances by the Servicer. Not later than the close of business on the Business Day preceding each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to all Monthly Payments that were due on the related Due Date and that were delinquent at the close of business on the related Determination Date, with the interest adjusted to the respective Mortgage Loan Remittance Rates; provided, however, that to the extent there are funds on deposit in the Custodial Account that are not otherwise required to be distributed to the Master Servicer on such Remittance Date, the Servicer may remit such funds in lieu of making advances of its own funds; and further provided that any such funds held for future distribution and so used shall be appropriately reflected in the Servicer's ’s records and replaced by the Servicer by deposit into the Custodial Account on or before each Remittance Date to the extent that funds on deposit in the Custodial Account for the related Remittance Date (determined without regard to P&I Advances required to be made on such Remittance Date) shall be less than the aggregate amount required to be distributed to the Master Servicer pursuant to Section 5.01 on such related Remittance Date. For purposes of this Section 5.04, any Monthly Payment or portion thereof deferred pursuant to Section 4.01 shall be considered delinquent until paid. The Servicer's ’s obligation to make P&I Advances as to any Mortgage Loan shall continue through the Remittance Date following acquisition or disposition of title to the related Mortgaged Property through foreclosure or by delivery of a deed in lieu of foreclosure. Exhibit One-9 Notwithstanding the provisions of this Section 5.04, the Servicer shall not be required to make any advance of principal and interest if, in the good faith judgment of the Servicer, such advance of principal and interest will not ultimately be recoverable from the related Mortgagor, from Liquidation Proceeds or otherwise. Such determination of non-recoverability shall be evidenced by an Officer’s Certificate delivered to the Master Servicer not later than the Business Day preceding the applicable Remittance Date.